SERVICE

Leading Indicators - 24 August

Key economic and financial metrics, and what to look out for in the week ahead
1 minute to read
Categories: service Consultancy Topic Covid-19 Data Economics Forecast World Regions UK

In this edition:

  • UK output: still expanding, but at a slower pace. The latest composite PMI reading of 55.3 is down from the heady peak of almost 63 in May, but still suggests a solid rate of growth (anything above 50 indicates expansion). Consensus forecasts released tomorrow will provide further insight into output and inflation expectations over the rest of the year.
  • Strong progress on global vaccinations. The share of global population having received at least one dose of a COVID-19 vaccine has risen to 33% - 10 percentage points above the level as at the 1st of June. In the UK, 70% of the population have received at least one dose of the vaccine, vs. 60% for the US and 43% for China.
  • Car manufacturing and the semiconductor shortage. This week, the Society of Motor Manufacturers and Traders (SMMT) will publish manufacturing figures for the month of July. The result will provide a measure of the impact that the global semiconductor shortage is having on the industry. The latest monthly figures showed UK car production reached 56.6k units in June 2021, in line with the same month last year but -48% compared to June 2019.

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